Secrets To PreForeclosure Profits Vacation of property. Stipulate that the seller must completely vacate the property and grounds prior to the closing date.
More on Real Estate Lawyers Real estate investment can be a tricky business due to the complexity of laws, statutes and regulations. That’s why it’s wise to have the services of a good attorney. Naturally, you want one who’s board-certified and specializes in real estate. You may not like paying the fees, but he or she can save you a lot of time, money and trouble in the long run. In your search for attorneys, look for ones who are very experienced in dealing with your state’s pre-foreclosure laws. Then, check qualifications and references. You can do this by first contacting your local or state bar association referral service for information. Then, search online for your state bar association membership to find out if the attorney is licensed to practice law in the state. Finally, check to see if there are any disciplinary actions or misconduct actions cited against the lawyer. If you need to look nationwide for attorneys, use one of the following sites to search for information on them. FIndLaw.com (http://findlaw.com/#) – click on the ―Research a Lawyer‖ link. Lawyers.com (http://www.lawyers.com/) LegalMatch.com (http://www.legalmatch.com) – click on ―Real Estate and Housing‖ link. As I stated earlier, you want an attorney who can speak and write in plain English, so talk to several to find out which ones can explain foreclosure purchase agreements in language you can understand easily. This means they communicate well, and you’ll be able to work easily with them.
Presenting the Purchase Agreement A key in presenting a purchase agreement is to have witnesses on hand to attest to the signatures on the agreement. Every state has its own requirements as to how many witnesses are required so make sure you have the right number on hand. If you don’t, you run the risk of a court declaring the purchase agreement invalid should it come to a lawsuit. This can happen when you run into an unscrupulous seller who gets a perceived better offer after the signing and wants out of the deal. So, be sure to protect yourself in this regard.
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